PulteGroup (NYSE:PHM) Price Target Raised to $151.00

PulteGroup (NYSE:PHM) had its price target boosted by UBS Group from $148.00 to $151.00 in a research note released on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Barclays reduced their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research note on Friday. BTIG Research lifted their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Bank of America reduced their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Seaport Res Ptn cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Trading Down 4.0 %

Shares of NYSE:PHM opened at $113.73 on Friday. PulteGroup has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The company has a market cap of $23.32 billion, a PE ratio of 8.39, a P/E/G ratio of 0.49 and a beta of 1.67. The company’s 50-day moving average price is $117.71 and its 200 day moving average price is $127.42. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. Sell-side analysts anticipate that PulteGroup will post 13.06 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.77%. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is 6.49%.

PulteGroup announced that its Board of Directors has initiated a stock buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently bought and sold shares of PHM. Fortitude Family Office LLC grew its holdings in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup in the 3rd quarter valued at about $29,000. Hager Investment Management Services LLC bought a new stake in shares of PulteGroup in the 4th quarter valued at about $29,000. R Squared Ltd bought a new stake in PulteGroup during the 4th quarter worth approximately $39,000. Finally, JNBA Financial Advisors bought a new position in shares of PulteGroup during the 3rd quarter worth approximately $43,000. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.